| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The following represents the common stock equivalents that were excluded from the computation of diluted shares outstanding because their effect would have been anti-dilutive for the three and nine months ended September 30, 2016 and 2015: | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | 2016 | | 2015 | | 2016 | | 2015 | Stock options and restricted stock | | 6,677,895 |
| | 7,948,021 |
| | 6,677,895 |
| | 7,948,021 |
| Series A redeemable convertible preferred stock | | 8,781,516 |
| | 8,781,516 |
| | 8,781,516 |
| | 8,781,516 |
| Total anti-dilutive common stock equivalents | | 15,459,411 |
| | 16,729,537 |
| | 15,459,411 |
| | 16,729,537 |
|
|
| Computation of Earnings Per Share |
The following represents a reconciliation of the numerators and denominators of the basic and diluted EPS computation: | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, |
| | 2016 | | 2015 | | 2016 | | 2015 | Numerator | | | | | | | | | Net (loss) income | | $ | (1,976,173 | ) | | $ | (2,581,939 | ) | | $ | (9,807,667 | ) | | $ | 12,256 |
| Effects of Series A redeemable convertible preferred stock: | | |
| | |
| | |
| | |
| Less: Series A redeemable convertible preferred stock dividends | | 194,012 |
| | 190,786 |
| | 581,986 |
| | 568,476 |
| Less: Accretion to redemption value of Series A redeemable convertible preferred stock | | 178,619 |
| | 149,969 |
| | 513,269 |
| | 430,943 |
| Net loss attributable to common stockholders | | $ | (2,348,804 | ) | | $ | (2,922,694 | ) | | $ | (10,902,922 | ) | | $ | (987,163 | ) | Denominator | | |
| | |
| | |
| | |
| Weighted average basic shares outstanding | | 43,488,448 |
| | 41,113,431 |
| | 42,847,038 |
| | 41,004,976 |
| Effect of dilutive securities: | | |
| | |
| | |
| | |
| Stock options and restricted stock | | — |
| | — |
| | — |
| | — |
| Series A redeemable convertible preferred stock | | — |
| | — |
| | — |
| | — |
| Weighted average diluted shares outstanding | | 43,488,448 |
| | 41,113,431 |
| | 42,847,038 |
| | 41,004,976 |
| EPS | | |
| | |
| | |
| | |
| Basic net loss per share attributable to common stockholders | | $ | (0.05 | ) | | $ | (0.07 | ) | | $ | (0.25 | ) | | $ | (0.02 | ) | Diluted net loss per share attributable to common stockholders | | $ | (0.05 | ) | | $ | (0.07 | ) | | $ | (0.25 | ) | | $ | (0.02 | ) |
|